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Resource tradeoffs are exchanges between resources, such as money, time, and energy.

Most people trade significant amounts of their time for money on a daily basis (e.g., working to earn income), and conversely money can be spent to free one's time (e.g., paying someone else to spend their time on a task). To make effective time-money tradeoffs, it's important to be able to estimate the value of a marginal hour of one's time.


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Posts tagged Resource tradeoffs